A survey of high net wealth and mass affluent individuals has shown that optimism is growing in the market as investment allocations switch toward equities and away from property. The groups were made up of individuals with at least $1 million or $500,000 in investable assets respectively. Sentiment in the high net wealth group was also the highest in two years, with over 40% saying that equities would outperform residential property in the next quarter. Previous surveys have shown the high net wealth index tends to lead the general market by three months, boding well for the ASX which has been hitting 5-year highs recently.
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